Are you considering moving to Europe? Deciding where to live can be a big call, and knowing the cost of living across Europe will help you make the right choice.
Are you thinking about packing your bags and moving to Europe? You're in for an exciting journey! No matter where in Europe you decide to settle, every country has a rich history, plenty of different cultures, and lifestyles to enjoy. When deciding where to live in Europe, one of the biggest factors influencing your decision is the cost of living in Europe, which varies a lot from country to country. To help you decide if Europe is the place for you and narrow your city choices, this guide will give you all the insights you need into the cost of living in Europe. Let’s get into it!
The average cost of living in Europe varies widely from country to country. Western European nations like Switzerland, Norway, and Denmark tend to be more expensive due to their strong economies and high living standards. On the other hand, Eastern European countries such as Poland, Hungary, and Bulgaria offer a more affordable lifestyle without compromising on quality.
It helps to compare two cities and see how much the cost of living could vary. For example, the cost of living in London, an expensive capital city in Western Europe, is about €2,625 ($2,750) per month. Whereas cheaper cities like Porto have a lower cost of living at about €1,300 ($1,360). Both of these averages factor in the cost of renting, which is likely going to be your biggest expense, especially in more popular cities.
Housing is usually the biggest chunk of your monthly budget. Let's break down the renting scene in Europe.
If you’re after affordable housing, searching homes for rent in Prague, Krakow or Athens is a great way to keep your rental budget down. You’ll easily find rooms and apartments to rent here for between €400 ($420) and €800 ($840) per month. These cities offer a vibrant lifestyle with plenty of culture, amenities, and opportunities to explore without costing a fortune to live in. Utilities and bills are often cheaper in these cities, too.
On the other hand, finding homes for rent in Paris, London and Milan are known for having high rents. In London, you can pay upwards of €2,200 ($2,300) per month for a one-bedroom apartment.
These cities are global hubs for finance, fashion, and culture, which drives the demand—and the prices. If you have your heart set on living in one of these cities, be prepared for higher living expenses in Europe.
Food is not just a necessity; it's a way to experience Europe's diverse cultures. Let's see how food costs stack up.
Living in Europe, you don’t want to (or have to) settle for cheap and bland food. European cuisines are rich in variety, so you can find a lot of cheap eats that are super tasty. If you decide to explore rental homes in Lisbon, you’ll be surrounded by affordable restaurants of local and international cuisines. If you decide to search for apartments in Athens, you can indulge in street food like gyros or souvlaki, which can cost as little as €3 ($3.15), making it easy to eat well on a budget.
Living in countries like Portugal, Spain, or Greece will also mean you’ll have plenty of fresh produce available year-round. Shopping for local produce is cheap, and the quality of ingredients in these countries is usually very high, especially if you shop in local markets.
The further north and west you head in Europe, the more expensive the food tends to be. If you decide to search homes for rent in Zurich, you’ll need to keep in mind that a basic meal at a cheap restaurant can cost around €20 ($21). Groceries in these countries can also be more expensive due to higher taxes and import costs.
However, higher food costs are often offset by higher salaries in these countries. It's all part of the higher cost of living in Europe in these regions.
Transportation is another essential part of your budget. Here's what you can expect.
Cities like Budapest, Prague, and Warsaw offer low-cost public transportation. A monthly public transport pass in Prague costs about €22 ($23). These cities have extensive networks of buses, trams, and subways, making it easy to get around.
In many European cities, walking and cycling are also viable options. For example, find houses for rent in Amsterdam, you’ll save money on transport by using the city's bike-friendly infrastructure.
If you find rental apartments in Copenhagen or London, you’ll quickly realize rent is not the only pricey thing in these cities. A monthly public transport pass in London can set you back at least €180 ($188) a month, depending on what zone you live in. However, these cities often offer student discounts and have efficient services that justify the cost.
Comparing the cost of living in Europe vs the USA isn't straightforward, as costs vary greatly within each continent. However, many find that living in Europe can be more affordable, especially when considering healthcare and education.
For example, healthcare in many European countries is subsidized or free, which can significantly reduce your expenses. In contrast, healthcare costs in the USA can be quite high.
Housing can be cheaper in some European cities compared to major U.S. cities like New York or Los Angeles. However, rural areas in the U.S. might offer lower living costs than some European cities.
If affordability is your main concern, consider moving to Bulgaria, Hungary, or Portugal. In cities like Porto, you might spend around €1,400 ($1,466) monthly for all your expenses, including rent, food, and entertainment.
Finding houses to rent in Turin is another affordable option. With a rich culture and growing expat community, monthly expenses in Turin can be as low as €1,500 ($1,570).
These countries offer cheap living expenses in Europe while providing a unique cultural experience.
On the other end of the spectrum, Switzerland tops the list of the most expensive places to live in Europe. Cities like Zurich and Geneva have high costs for everything from housing to a cup of coffee.
In Zurich, monthly living expenses can easily exceed €3,800 ($4,000). High salaries in Switzerland help offset these costs, but it's something to consider if you plan a move.
Countries like Germany, Austria, and the Netherlands offer a great balance between high salaries and reasonable living costs.
If you decide to find a home to rent in Berlin, you can enjoy a high quality of life with an average cost of living of about €2,100 ($2,200) per month. Salaries are competitive, especially in industries like tech and engineering.
Similarly, you can easily locate rental flats in Vienna that’re affordable while you embrace the rich cultural scene of the Austrian capital. Vienna consistently ranks high in quality of life surveys, making it an attractive option.
Moving to Europe is an exciting adventure filled with new opportunities and experiences. Understanding the average cost of living in Europe will help you plan better and make the most of your time abroad. Whether you're drawn to Budapest's affordable charm or London's bustling streets, there's a European city that's perfect for you.
This article is for informational purposes only.
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In this article
Is it expensive to live in Europe?
The cost of renting in Europe
The cost of food in Europe
Transportation costs in Europe
Is it cheaper to live in Europe or America?
What's the cheapest place to live in Europe?
What's the most expensive place to live in Europe?
What's the best salary to cost of living ratio in Europe?
Tips for making the most of your budget
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